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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Doug Meetmer who wrote (3412)3/6/1997 2:29:00 AM
From: C L   of 35569
 
Doug, No apology needed, we try to answer questions that are put to us by reasonable individuals. I am not qualified to answer most chemical questions. You might want to address that to Bill Jackson, I believe he is a chemist. If Ledoux issued the statement, I would expect it to be accurate. They are a world-class umpire lab.

On IPM: We have had a power move from about $5.50. Only one other stock I was involved in has done anything like this. We are in uncharted waters here, so your ideas are probably as good as anyones. I bought more today, so that shows you were I am. My 5th buy in this stock was 5000 shares at 15/16ths. Today I paid $9.50 X 1000. I can assure you it felt awfully strange. I've had a few hours to contemplate this and decided that today's buy probably made a lot more sense than the earlier one. I have been fortunate enough to get to know management on a close basis. I also got to view the lab and talk to the scientists. I wrote a report on it(Dec. 24th)that is in this thread. I am completely at ease with these people and their process. I have done my best to convey the things that I have learned over the last 2 years. It's been tough, I'll tell you. I've been called every thing but a white man and gotten some horrid E-mails. A good friend of mine still gets daily warnings that I'm a scammer. You just can't please everybody, no matter what you do. Go with the best possible management - the people are the answer.

I personally think we'll close at about $12.50 by Friday. Will it pull back??? Probably only Furman and Hanifen know that. Best to you.

C L
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